Smartworks Coworking Spaces shares lists with premium of over 7% at Rs 436

New Delhi: Shares of Smartworks Coworking Spaces Ltd on Thursday listed with a premium of over 7 per cent against the issue price of Rs 407.

The stock listed at Rs 436.10, up 7.14 per cent from the issue price on the BSE. Later, it surged 15.23 per cent to Rs 469.

At the NSE, the stock started trading at Rs 435, up 6.87 per cent.

The company's market valuation stood at Rs 5,241.48 crore during the morning trade.

The Rs 583-crore initial public offer of Smartworks Coworking Spaces Ltd garnered 13.45 times subscription on the closing day of bidding on Monday.

The company had fixed a price band of Rs 387 - Rs 407 per share for its IPO.

The IPO of Smartworks Coworking Spaces hit the capital market on Thursday last week to raise nearly Rs 600 crore, as the company intends to expand its business and reduce debt.

Gurugram-based Smartworks, one of the leading managed flexible office space providers, has 48 operational co-working centres with over 1.9 lakh seating capacities.